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Although closer to Palm Beach and Fort Lauderdale, Grand Bahama
has been the bridesmaid to her New Providence bride. With established properties
like Our Lucaya and Old Bahama Bay, which "civilized" the West End in 2001,
Grand Bahama’s popularity is again on the rise. Developer West End Resort has
taken title to 78 acres of land adjacent to the existing 150-acre property for
future expansion of Old Bahama Bay Resort & Yacht Harbour. The project is
expected to inject $281 million into the Bahamian economy and more than $83
million in tax revenue during the next 20 years. Plans include expanding the existing 49-room hotel to 73 deluxe
rooms and suites in fall 2006, and construction of a dive shop and a
charter-fishing center. Also planned is a full-service spa, with over-the-water
treatment rooms allowing guests to view sealife through clear acrylic floors.
The new marina, due to open in 2007, will expand the existing 72-slip facility
to 180 slips, including accommodations for five 200-footers.
 Emerald Bay. Rendering courtesy of Ginn Real Estate. (Click image to enlarge)
Also on the West End, 192 home sites are being cleared for the
2,000-acre Ginn Versailles sur Mer. This small city will include Jack Nicklaus–
and Arnold Palmer–designed golf courses, a 5,500-foot private airstrip, a
55,000-square-foot casino, retail space, two water parks and 4,000 condos. The
first of three marinas will begin construction at the end of 2006 and be
completed in 18 months. The marinas and behind-home dockage will account for
1,400 boat slips, with spaces for 250-footers. The Lucayan Marina Village, in operation for 20 years, is being
rejuvenated at the hands of Preben Olesen, who bought the property in September
2005. It was practical business as well as an emotional play for the Central
Florida developer who has owned a home in the village since 1999. Having cruised
the Caribbean aboard his 65-foot Azimut, he admits he always finds his way back.
"It’s a civilized island. There are Winn-Dixie grocery stores, 30 restaurants
within walking distance of the marina, and we’re 20 minutes away (by plane) from
Palm Beach." With 55 acres and only 14 completed homes, there is plenty of
room to grow. Olesen is building 300 residences ranging in price from $495,000
to $10 million for homes of 12,000 square feet, each with servants’ quarters and
a boathouse; two are already reserved.
 Bimini Bay will provide amenities and
a casino; its enlarged marina will be able to handle 200-footers. (Click image to enlarge)
To eliminate any confusion with Port Lucaya Marina, Olesen
changed the name of his property’s facility to Grand Bahama Yacht Club. It
provides 125 slips for boats 40 feet and longer, but is currently in refit.
"We’re extending concrete piers to 100 feet and removing pilings to make room
for more megayachts." That will provide berthing for 30 150-foot yachts and the
room to dock four 190-footers. On the northern end of the Abaco’s Great Guana Cay, 585-acre Baker’s Bay Golf
and Ocean Club will include a Tom Fazio–designed golf course, a world-class spa
and an expansive beach club. Residential opportunities include 359 custom
homes—cottages, bungalows and villas—on sites ranging from one-third acre to
more than one acre. Amenities and infrastructure will be in place in 2007 and
will include waterfront dining, a general store, a luxury inn and an authentic
Bahamian farmer’s market. The marina will feature 180 slips ranging in size from
35 feet to more than 200.
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